In April of 2020, Emerald Creek Capital provided a $2,325,000 acquisition loan in Westhampton Beach, NY on the south shore of Long Island. The loan is secured by a 33,541 square foot waterfront property consisting of 8 one-bedroom rental units each with a private deck. A four-time repeat borrower of Emerald Creek, the sponsor plans to develop the property by elevating the existing structures into a luxurious vacation destination known as Beach & Bay Bungalows. Guests will enjoy private oceanfront beach access in addition to water sports and fishing on the bay. The subject property is located a short drive from the critically acclaimed restaurants, shops and entertainment within Westhampton Beach Village.
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